New home sales dip 6.9 percent in April
Average sale price is $393,700.
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for April 2019:
New Home Sales
Sales of new single family houses in April 2019 were at a seasonally adjusted annual rate of 673,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
This is 6.9 percent (±14.0 percent)* below the revised March rate of 723,000, but is 7.0 percent (±12.4 percent)* above the April 2018 estimate of 629,000.
However, April's decline was from an 11-year high in March.
Sales Price
The median sales price of new houses sold in April 2019 was $342,200. The average sales price was $393,700.
For Sale Inventory and Months’ Supply
The seasonallyâadjusted estimate of new houses for sale at the end of April was 332,000. This represents a supply of 5.9 months at the current sales rate.
CONTRACTOR SUPPLY MAGAZINE
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